RBS Dump on the IT Contract Market

RBS boss Ross McEwan under pressure after reporting £2 billion loss for 2016

Have a couple of friends working as contract IT staff at RBS. We’ve been discussing the IT Programme to set up Williams & Glyn bank as directed by the EU as part of the conditions of their government bail out.

The programme was employing 6,000 staff and had a burn rate of £50 million a month, which seems unbelievable. It had been running for some time but now has officially gone no where with £325 million written off in the last accounts alone.

RBS have announced the programme is canned and all contract staff put on a weeks notice to leave by this Friday.

Not a great move for the IT staff as hundreds of them are put out of work at very short notice and all dumped on a sleepy summer job market all at the same time.

The recruitment consultancies are doing their best to rally round but many will be out of work for some time.

The reputation of RBS in the IT contract market has suffered quite a setback.

Good IT staff won’t be rushing to be employed by RBS anytime soon !

Would you use an outdoor laundry ?

The latest innovation from Photo Me

If so then email me quick on dunover@live.co.uk

I’m running the rule over Photo Me (PHTM) as an investment and their latest cash generating machine is the outdoor laundry. Put your washing in the car, drive to the supermarket, put your washing on and go and do your shopping.

Sounds plausible, doing very well in Japan, France and Ireland but UK supermarkets are too demanding on the commission hence few in the UK yet.

Party games – Put in order of value

The Harbour Series from Keith Athay – we bought from Whitewall Galleries
Keith Athay Harbour series
Keith Athay – Harbour series

This is our full collection for now.

Our visitors are quite entertained to put them in order of valuations and quite surprised when they get it wrong:

Number 1

Yellow_Meadow-900x900

Yellow Meadow painted by Bruno Tinucci

Number 2

Fishing boats at low tide painted by Jackie Ward
Fishing boats at low tide painted by Jackie Ward

Number 3

Sea view
Harbour Town 6 part of the Harbour Series painted by Keith Athay

Number 4

Tuscan_Poppy_Field-900x900
Tuscan Poppy Fields painted by Bruno Tinucci

Number 5

Racing Yachts
Racing Yachts painted by Marion E Wallace

Banks – My biggest regret

Pedestrians walk past a branch of the Royal Bank of Scotland in London on January 30, 2012. The chief executive of Britain's state-rescued Royal Bank of Scotland has bowed to intense political pressure and waived his annual bonus worth almost 1.0 million British pounds, the lender said on January 30, 2012. AFP PHOTO / JUSTIN TALLIS
RBS post a £2 billion loss and share price down 10% in one day

Why did I buy RBS shares ….. ?

Because they were an enormous bank who couldn’t possibly fail. A quick rescue plan invoked and share price would soon recover.

Now, -75% later, have plenty of time to reflect on how badly that has gone wrong.

I’m just not going to sell, CEO Ross McEwan better get it sorted and meanwhile hand even more of his bonus back

Friends love our original art work

Apart from the Investment in Artists aspect its pretty spectacular having original artwork in your home.

Keith Athay Harbour series
Keith Athay – Harbour series

Having added Fishing Boats at Low Tide by Jackie Ward on Friday it’s sitting by our previous acquisition, also a collage from the Harbour series by Keith Athay.

Friends round last night were amazed at the quality of the pictures hanging on our wall, it certainly adds a wow factor to your home for both you and your visitors.

We bought the Keith Athay on a random trip to Whitewalls gallery in Milton Keynes. It was an impulse buy based on us loving the picture and a chat with the very knowledgeable Whitewalls staff about Keith Atthey. We read up on Keith Athay in more detail once we got home.

Whitewalls have a number of galleries across the country and are great places to locate and drop in. They also have the Whitewalls website here

They often have promotional events in their stores too, well worth getting on their mailing list to alert you to which artists, paintings and events they are promoting near you.